Unsold apartments in Beirut : A worrying situation ? – May 2014

The number of unsold apartments in Beirut during 2013 has reached the level of 277 units representing 22% of the total number of built apartments in 2013 and revealing an increase of 26.7% over 2012 of unsold apartments, according to the latest study conducted by Ramco Real Estate Advisers.

This level has never been reached before, even during recession periods. It could be explained by mainly a drop in demand on new apartments particularly because of the prevailing and recurring situation of political security instability. However, this could always be overcome should the country experience a period of calm and stability characterized by the election of a new President and the advent of a new parliament, facts that would trigger a reboost of economy. Hereafter a table displaying the details of the situation: